India's 'digital payments revolution' initiator sees failure this way: - www.deekpay.com
Vijay Shekhar Sharma is an Indian entrepreneur who is the founder of Paytm payment platform. Here is a brief summary of the article:
- **BACKGROUND**: Warren Buffett's Berkshire Hathaway has liquidated its stake in Paytm, another major shareholder to reduce its stake in Paytm this year after China's Ant Group and Japan's SoftBank Group.
- **Sharmar's stance** : Sharmar has stuck with the company through the capital shuffle, buying back some of his shares to become the single largest shareholder in the company. He believes that the withdrawal of foreign capital is not a bad thing for Paytm and that he will steer the company in a new direction.
- **Experience of Sharma**: Born in 1978 in Uttar Pradesh, India, Sharma entered college at the age of 15 and later studied at the Delhi Technological University. While in college, he founded Xs Corps, which he sold to an American company in 1999. Thereafter, he founded One97 Communications and launched the Paytm payment platform.
- **Mobile Payments Inspiration**: Sharmar was inspired during a trip to China and decided to promote mobile payments in India. He was inspired by Jack Ma and Alipay to create an Indian Taobao and Alipay.
- **Challenges**: Paytm faces multiple challenges, including the Government of India's "Unified Payment Interface" policy and pressure from competitors such as PhonePe and Google Pay.
Sharma's story showcases his entrepreneurial spirit and deep insights into the mobile payments space, while also revealing the challenges Paytm faces in the Indian market.